Material event report (rights offering) (subsidiary)

What happened

Material Event Report / Exchange Reporting Obligation -- Material Management Matter Report of Subsidiary Aprogen Biologics Co., Ltd. (The source filing opens with a stray CSS/layout fragment, "/*report_xml.css*/", which is omitted here as a formatting artifact.) To: Financial Services Commission / Korea Exchange Date: July 14, 2026 Company name: Aprogen Biologics Co., Ltd. CEO: Kim Jae-seop, Kim Jeong-chul Head office: 4F, 480 Baekjegobun-ro, Songpa-gu, Seoul (Bangi-dong, Pungmoon Building) (Tel) 02-561-4011 (Website) http://www.aprogen-biologics.com Preparer: (Title) Managing Director (Name) Kang Seon-ju (Tel) 031-8022-0513

Rights Offering Decision

1. Type and number of new shares Common shares: 1,087,548; Class shares: - 2. Par value per share (KRW): 500 3. Total issued shares before the capital increase Common shares: 14,412,374; Class shares: - 4. Purpose of fund-raising Facility funds: -; Funds to acquire another company's business: -; Operating funds (KRW): 2,000,000,772; Debt repayment funds: -; Funds to acquire securities of another company: -; Other funds: - 5. Method of capital increase: Third-party-allotment capital increase * Matters concerning class shares: Basis in the articles of incorporation -; Content of the shares -; Other - 6. New share issue price Common shares (KRW): 1,839; Class shares: - 7. Base share price Common shares (KRW): 2,043; Class shares: - 7-1. Method of calculating the base share price: The lower of [the simple average of the one-month, one-week, and most-recent-day volume-weighted average prices, as of the day before the board resolution date] and [the most-recent-day volume-weighted average price] 7-2. Discount or premium rate to the base share price (%): -10.0 7-3. Basis for the discount (premium) rate: Article 5-18 of the Regulation on Issuance and Disclosure of Securities (Determination of the Issue Price for Rights Offerings) 8. Basis in the articles of incorporation for the third-party allotment: Article 9 (Issuance and Allotment of Shares), Paragraph 1, Item 2 9. Payment date: July 27, 2026 10. Dividend record date for new shares: January 1, 2026 11. Expected date of new share certificate delivery: - 12. Expected listing date of new shares: August 14, 2026 13. Whether this is a backdoor listing via in-kind contribution: No - Whether there is an in-kind contribution: No - Whether the in-kind contribution property includes shares of an unlisted company: Not applicable - In-kind contribution value of shares to be paid in: In-kind contribution value (KRW) -; As % of the Company's total assets for the most recent fiscal year -; Number of shares to be paid in - 14. Whether backdoor-listing requirements are met: No 15. Date of board resolution (decision date): July 14, 2026 - Outside directors present: -; Absent: 1 - Attendance of the audit committee (member): Absent 16. Whether a securities registration statement must be filed: No 17. Reason for exemption from filing: Under Article 2-2, Paragraph 2 of the Regulation on Issuance and Disclosure of Securities, the shares will be electronically registered with the Korea Securities Depository immediately after issuance and will be subject to a one-year lock-up on disposal. 18. Whether the subscription falls within a period when short selling is prohibited: No; Start date -; End date - 19. Whether subject to Fair Trade Commission reporting: Not applicable 20. Other material matters relevant to investment decisions - This rights-offering plan may change in the course of discussions with relevant authorities. Table added because the base share price uses the lower of [the simple average of the one-month, one-week, and most-recent-day volume-weighted average prices, as of the day before the board resolution date] and [the most-recent-day volume-weighted average price] (Unit: shares, KRW) Category / Volume / Value / Volume-weighted average price Volume-weighted average price for the past 1 month (A): 2,290,372 / 4,845,406,259 / 2,116 Volume-weighted average price for the past 1 week (B): 356,117 / 727,499,285 / 2,043 Most-recent-day volume-weighted average price (C): 68,646 / 140,241,630 / 2,043 Simple average of (A), (B), (C) (D): 2,067 Base share price: lower of (C) and (D): 2,043 Discount or premium rate (%): -10.0 Issue price: 1,839

[Basis and Purpose of the Third-Party Allotment] Articles-of-incorporation basis for the third-party allotment / Purpose of the third-party-allotment capital increase: Article 9 (Issuance and Allotment of Shares) (1) Where the Company issues new shares by board resolution, it does so by one of the following methods: ... 2. Within the limit of the total number of shares the Company plans to issue, where necessary to achieve a management purpose such as introducing new technology or improving the financial structure, offering specific persons (including the Company's shareholders) other than under Item 1 the opportunity to subscribe for new shares. / Operating funds

[Specific Purpose of Use of Funds Raised Through the Third-Party Allotment] [Operating funds / other funds] (Unit: KRW) Use of funds / Details / Planned amount by year: 2026 / 2027 / 2028 and after / Total Operating funds: Purchase of raw and subsidiary materials, factory operating costs: 2,000,000,772 / - / - / 2,000,000,772

[Selection Background, Transaction History, and Allotment Details for Each Third-Party Allottee] Third-party allottee / Relationship with the Company or largest shareholder / Selection background / Transactions and plans within 6 months before and after the capital-increase decision / Shares allotted / Note Aprogen Co., Ltd.: Largest shareholder; Achieving management purposes and prompt fund-raising; 2026.01-2026.07: service revenue etc. (approx. KRW 3.7 billion); 2026.04: collateral provided (approx. KRW 63 billion, the Company's "050 Plant" land, buildings, etc. (as stated in the filing)); 2026.04: common share rights offering (approx. KRW 2 billion); 2026.05: Series 19 convertible bond issuance (approx. KRW 10 billion); 2026.06: collateral provided (approx. KRW 9 billion, the Company's "050 Plant" land, buildings, etc. (as stated in the filing)); 1,087,548 shares; Subject to a one-year lock-up from the new-share listing date

[Where the Third-Party Allottee Includes a Corporation or Entity] (1) Basic information on the corporation or entity Name / Number of investors / CEO (representative partner) / Managing partner (managing partner) / Largest shareholder (largest contributor) Name / Share(%): Name / Share(%): Name / Share(%) Aprogen Co., Ltd.: 49,081 investors; CEO Kim Jae-seop 4.05%; -; Largest shareholder Gbase Co., Ltd. 21.80% (2) Key financial matters of the corporation or entity for the most recent fiscal year (Unit: KRW millions) Fiscal year: 2025; Settlement month: December Total assets: 717,264; Revenue: 117,974; Total liabilities: 258,654; Net income (loss): -140,570; Total equity: 458,609; External auditor: Samduk Accounting Corporation; Capital stock: 164,652; Audit opinion: Unqualified

[Where the Third-Party Allottee's Largest Shareholder Is a Corporation] (1) Basic information on the corporation or entity Name / Number of investors / CEO (representative partner) / Managing partner (managing partner) / Largest shareholder (largest contributor) Name / Share(%): Name / Share(%): Name / Share(%) Gbase Co., Ltd.: 1 investor; CEO Kang Seon-ju -; -; Largest shareholder Nexconics Co., Ltd. 95.24% (2) Key financial matters of the corporation for the most recent fiscal year (Unit: KRW millions) Fiscal year: 2025; Settlement month: December Total assets: 21,370; Revenue: 1,720; Total liabilities: 3,920; Net income (loss): -43; Total equity: 17,449; External auditor: -; Capital stock: 350; Audit opinion: -